Kay Iscah's Blog, page 21
December 6, 2011
Book Updates
I'm working to fix some grammar/technical issues with the Kindle Edition. If you already purchased a Kindle Edition and the grammar issues are bugging you, let me know. I'll try to get you a free update once the fixes are done. (Kindle went through some formatting changes while I was formatting, so basically I'm gonna start the files from scratch and try to include color photos). There will be no major content changes. I've gotten some really positive feedback on the Kindle Edition as is, so I don't think it's unreadable. Still gotta strive for best quality. :)
Lastly, we've got two book talks at libraries booked for January, and a few more possibilities lined up. I'll post specific information soon, and hope those who are able will join us. If nothing else there will be snacks.
December 5, 2011
Articles worth reading
U.S. Postal Service Faces Bankruptcy, Plans Cuts To Slow Delivery Of First Class Mail
You need to be aware of the post office changes for personal reasons. With the post office cutting back, I also wonder if private companies will pick up some of the "next day" slack.
The Latest Credit Card Trap: No Limits, Just 'Access'
My favorite line from the 2nd article: "Finally, remember: Credit is a tool of convenience, not an extension of your income."
You can live without a credit card. You need to be proactive rather than reactive with your finances, but that's a good thing.
December 3, 2011
Limitations vs. Control
I have a bit of a love/hate thing going with the Suze Orman show. I do like some of her philosophies, and I think she's great with the more complicated investment questions. One thing I don't like about her is her "budgets are like diets, they don't work" mantra, because it's not true. If you stick to a healthy diet, you'll lose weight. If you stick to a healthy budget, you'll save money.
The trick is you have to actually live out in real life what you've planned on paper. She is right that having a plan isn't enough. You need to have control to follow it, but control with out a plan can be a little disorienting.
Example: You use restraint and don't buy a $30 sweater you don't need. Great, so you saved $30 right...? Not exactly. I can not buy millions of dollars worth of stuff. That doesn't magically gift me with millions of dollars. (Wouldn't it be nice if it did?) To understand how much that sweater would impact me, I need to understand what assets I have, how much money is coming in, what needs to go out, and what the opportunity cost is if I go past that limit. But I need something to tell me where that limit is.
I got a little mad tonight. A woman called in, worried about 401K contributions, vs. debt payment. She said she had a history of being bad with money (because she was disorganized with her paperwork), but she started a dialogue with her husband and they had worked out a budget together. Suze first asked why the caller didn't value herself and then said making a budget was a wrong first step, first she needed control.....
I realize women learning to be confident with money is one of Suze's soap boxes, but not everything is a self esteem issue. And if it was, jumping on her case for taking a positive step forward seemed counter productive.
To me it sounds like what this woman really had was an organization issue, and a budget is an organizing tool. It might also help her to sit down with her husband and create a filing system (so they both understand and can use it). I'm a fan of color coded folders, but something as simple as an in/out tray can be a big step forward if you have trouble keeping track of bills/paperwork.
Making a budget is step 1 (organization), following it is step 2 (control), and learning what to do when it goes awry is step 3 (flexibility). And I kind of hate putting it in steps like that, because everyone has different personalities and strengths. If you start by controlling impulses then make a budget, more power to you. If you first realize that money is a flow like water (flexibilty), then learn the power of controlling water, this is also good, because you're learning. If you keep learning, you will eventually put it all together.
December 2, 2011
Misplaced Money
IRS Seeks to Return $153 Million in Undelivered Checks to Taxpayers; Recommends e-file, Direct Deposit to Avoid Future Delivery Problems
According to the article: 99,123 taxpayers are due refund checks this year that could not be delivered because of mailing address errors. Could you be one?
November 30, 2011
Perspective
Americans in particular often need to stop and get perspective. I read a Dear Abby style article earlier this week (sorry, lost the link, I'm paraphrasing from memory) that said the average salary of a flight attendant was about $20/hour. The Questioner (young single woman) asked if she should take the flight attendant job with only 79 guaranteed hours per month and how would she survive. The Writer (who had been a flight attendant herself) responded that it was a certainly a job to pursue because you like the lifestyle, not the kind of job to take in pursuit of high pay, and then gave her some practical advise on getting through this initial "on call" period, pointing out that 79 hours at $20/hr was $18,960 (my math) for the year, not including any additional "call in" hours she would receive . All good. In the reponses, however, one person said, "I don't see how anyone could survive on $20/hr."
For perseptive, according to The 2011 HHS Poverty Guidelines, the poverty line in America for 2011 is $10,890 (higher in Alaska & Hawaii) for a single adult. Federal minimum wage is $7.25/hr, a 40/hr per week minimum wage earner (assuming they work 50 weeks out of 52 in a year) should make $14,500.
For further perspective, I was watching a marine life show this morning that talked about how the local fishermen in one African country (I apologize for not knowing which one) were hunting sharks for their fins. They could get $50-$60 per fin, which was a big deal since most of their neighbors lived on $1/per day.
According to the Bureau of Labor statistics, the current U.S. unemployment rate is 9% (there's some debate on what that number actually means, but for now...). The Unemployment rate in Haiti is estimated between 40% and 60%.
Costs of living varies by location and even someone making $80,000 per year can easily have money troubles if they have lots of kids, unexpected damages, and/or massive medical bills. So I'm not belittling anyone's financial woes simply because someone else's might be worse. Or saying we shouldn't strive on legal, personal, or social levels to make things better.
But I do know it's easy to get caught up in what you don't have instead of enjoying what you have. And that's something I do want this blog to focus on. Enjoying what you have.
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Unrelated, I thought this was a worth reading article on holiday scams to look out for 5 Scams You Shouldn't Fall For This Holiday Season
November 28, 2011
Post Thanksgiving/Black Friday Thoughts...
Living Single on Minimum Wage is available on the Barnes and Noble website now, which is very cool.
Out of morbid curiosity and the lure of free gift cards from Belk, I ventured out Thursday night/Friday morning this year with my sister. I'm happy to say I didn't see the worst of Black Friday. No shoving, snatching, or other disturbing behaviour. I was actually impressed by how organized and safety conscious the local Target was when dealing with the crowd and most of the other customers were reasonably polite to me, but egad the LINES. Best Buy was wrapped around the building until well after 3am.
After an hour in line at Target, to be followed by two hours in line at Belk, not counting the lines once we were in the stores....I was questioning whether it was worth it (from a mathematical stand point). The $5 gift card I got from Belk only slightly over balanced the money I spent on Hot Chocolate from Starbucks (only place in walking distance with hot drinks) to stay warm. The person who got the $1000 gift card, I'm sure, felt better rewarded.
On the numbers/financial end, it may be worth a long wait in line if you're saving a large amount of money on something you would have or wanted to purchase anyway. For instance a $500 tv that had dropped to $250 or several specific items like a $60 game marked $15 + a $70 bedding set marked down to $20 + etc....if you're willing to line up hours in advance, more power to you. It may be worth the time invested.
On general merchandise and "see what I can find" however... I strolled in leisurely at 3pm Friday afternoon, dealt with no crowds, no lines, and still found some nice sales. On Saturday, I had to return one of the few items I got at the door busting, cause I found out it's recipient already had one, and while shelves had thinned a bit, still quite a few mark downs. Went to the mall yesterday, and got a sweater vest for my grandfather (so hard to buy for) for 75% of the the original price. Today (last week and most of this week) many "Cyber Monday" deals are available....so lots of crowdless or low crowd opportunities for sales outside of door busting.
The Belk opening wasn't a complete loss. I went with the single focus of getting something nice for my mother, and we found something nice for my mother. Mission Accomplished. Will I do it again next year? Heck no.
P.S. While I saw no disturbing crowd behaviour, I was rather upset by the couple who had their small child and infant at the 3am Belk opening. The kids had been in the car with mom while dad stood in line for 3 hours....but seriously, 3 hours in the car? followed by 30 minutes in the cold? To be followed by at least an hour in a crowded, noisy store. If the engine was off, it was too cold. If it was on, what a waste of gas. Either way, bad parents.
November 24, 2011
Happy Thanksgiving Everyone!
(Kind of kidding, it's nice to be employed...even on Black Friday.)
Some random stuff to read/consider while you're off today.
A little video/article on potential ways to save when buying car insurance, Savings Experiment: Car Insurance
And never forget the ever-so-important DRIVE SAFELY. Fewer accidents usually means lower rates. Take extra care if you're traveling and away from familiar streets.
Turkey poo as an Energy Source? Article: Making Turkey Less Foul The Envirnomental hereos of the future will be those who figure out not only how to reduce waste, but how to turn waste into something useful. I post things like this to show how the job market is evolving. As old jobs shut down in a recession, new opportunities will be created...we just have to get creative and find them.
Health Article: Does Turkey Really Make You Tired? For some the post meal nap is simply part of the tradition, but it is a good idea to try to leave yourself pleasantly full rather than "stuffed". They mention that alcohol shouldn't be a substitute for water, and that's true. Alcohol and caffeinated beverages can contribute to dehydration, which will also leave you lethargic...however juices, milk, non-caffeinated teas do contained H20, plus other vitamins/nutrients, so plain water isn't your only healthy option.
I offer my standard Black Friday safety warning. It seems every year there's a trampling death, and this is ridiculous and unnecessary. No sale is worth risking injury. If you notice people crowding around a door rather than waiting in a neat line, back off.
I got most of my Christmas shopping done earlier this week. I usually give extended family $2 "I'm thinking about you" gifts, but I do my best to make them personal/useful. This year I found some really neat 2012 calendars and weekly planners on Target's Dollar Aisle. Some of them were really cool, like a crayola "color it yourself" calendar and a two year Mom themed scheduling calendar, also some small 16 month Disney calendars, classic Mickey, Cars, and Tinkerbell/Pixies. My sis has already admitted to getting me some of their Chococat selection (which is funny cause I almost bought the same items for her).
Doing my mom's shopping for her again this year...so I may venture out on Friday...later in the morning. Be kind. Be Courteous. Be Safe.
November 22, 2011
This Shouldn't Taste Good, but It Does
Top a ham slice with cottage cheese
Sliced Apples play nice with Hummus
Kroger's Sliced Swiss on Prunes. (This processed swiss is much smoother than regular swiss cheese, might try provolone as a sub. Good ratio seemed to be a single layer of cheese about the same size as the prune.)
I did a google search and there are several articles out there with Thanksgiving leftover recipes. During my search I found The Use It Up Cookbook on sale at Amazon. I have not read the book, and therefore can't endorse, but it's a cool concept. There's another book with a similiar title (different subtitle) same concept by a different Author...the spiral bound print edition is $49.99 which is a bit steep...but it's on Kindle for $9.99.
Websites like http://www.supercook.com/ can also be great places for finding ideas to use what you have. And best I can tell, it's free to use.
There's nothing wrong with just eating Turkey as Turkey either....
P.S. There was some great stuff on Managers Special at Kroger yesterday...not sure if they're clearing things out for the Thanksgiving rush, or it just worked out this way, but I picked up a Ceasar Salad kit for 25 cents, a small veggie platter with dip for $1, and a bottle of pomegranite Juice for $1. We passed up a largish backage of Country Ham for $2.99. (There were several of these...marked down from $14.95...I'm just not a ham person.)
Normally, I wouldn't even glance at the pomegranite juice or veggie platters because of the price....but I've trained myself to make the rounds and keep an eye out for orange stickers. I think it's a good idea to vary the source of nutrients. It's easy to get stuck in a food rut.
November 21, 2011
Christmas Budget Survivor's Guide
If there's any time that budgets get tossed out the window, it's Christmas time. To some degree that's good, but if you're stretched thin, it can be enough to make you snap. So here's a bit of a survivors guide.
1. NEVER FEEL OBLIGATED to buy someone something for Christmas. Covering your basic needs (food/water/shelter) is more important than getting something nice for everyone you know. I've had a few years, when I was younger and things were tighter, that I just had to give out hugs for Christmas. It's okay. The people who really love you won't mind.
2. Christmas presents should come out of your entertainment budget (refer to earlier post on budgeting for example) or beyond that maybe your short term savings (for non essential items), but nowhere else.
i.e. giving up buying a new video game system to buy gifts for other = sweet
giving up buying hygeine products to buy gifts for others = unpleasant for everyone
3. You are NOT required to spend the same amount on everyone (You can, but don't feel like you have to). There's no perfect formula for gift spending, but it's more important whether or not some will get happiness/joy/use from your gift than how much you spent on it. Try not to get caught up in the numbers. I watch my mom do that sometimes, and it makes Christmas more stressful and less fun.
4. It really is the thought that counts. A great gift shows that you care about the needs and wants of the person you're giving it to. So a $2 item that a person wants is a far better gift than a $50 item they have no interest in. I think the real reason we get so frustrated by bad gifts is that it reminds us that the giver doesn't know us as well as we might like them to.
5. For the person who HAS EVERYTHING, consumable gifts (i.e. food, candles, lotions) are great. They're more likely to be used, and they won't sit around, creating clutter. Sometimes they're great for the people who don't have everything too.
6. Regifted/used items are okay if they are in good/new condition, and they're something the person you're giving the gift to wants. Christmas can be a good time to pass on keepsake type items.
7. Many of us have the idea that it's only okay for kids to "make something" for Christmas, but if you have a talent like sewing/cooking/carpentry, there's nothing wrong with making a present. When you don't have money, giving someone some of your time can more than make up for it.
8. If you're not quite up to making something, creative presentation can make a gift more fun too. Try combining simple items for a gift basket/bucket, or think about a person's favorite colors when you wrap their gift. (One year, when I was much younger, all I could afford for my mom was a cute magnet, but to make things more fun, I created a series of clues she had to figure out to find her present. Okay, the present wasn't going to blow anyone away, but the game to find it was actually quite fun.)
November 18, 2011
Why It's Important to Keep a Paper Trail....
I had thought the problem was with my Automatic Withdrawal this year and everything had been fine last year. But apparently their computers say I didn't pay for last year. I cried foul, because I knew I had. I'd paid it. I'd used it. Neither my dentist or eye doctor had complained to me. The agent said if I could show proof that a payment had been made, she'd see about getting everything straightened out.
Because I keep my bank statements, in less than a minute I was able to provide that proof. The withdrawal from my bank account is shown pretty clearly there. To get a better idea of what was going on, I called my dentist. Turns out they hadn't been paid for my last visit. No idea why they didn't mention that when trying to get me to come in for another visit. Still waiting to hear back from my eye doctor. >_>
Big companies make mistakes, and as long as they're willing to fix it, I can get past that. If my dentist had told me there was a problem, I probably could have cleared this up several months ago....but the point of this post isn't about laying blame, but covering your rear.
When disputes come up, you may have the best reputation for honesty on the planet, but unless you have a paper trail to back you up, it's hard to prove your point. Filing seems like a hassle, but keeping your paper trail organized makes it much easier to find the right papers when you need them.
